T6 ecogrowth and development Flashcards
What is economic development
Eco growth and the increase in eco welfare
How can eco development occur(4)
Improve standards of living Better access to higher quality goods and servuices Inc HDI Eco sustainability FDI flows
What are characteristics of a developing country(4)
Low SoL Poor access to goods and services Low trade Low real GDP High UE Low HDI Low GDP per capita
Measures of development(3)
GDP
GNI (takes into account profits made from abroad)
Inc HDI
What are problems with HDI and GNI
They dont take into account externatlities and quality of life
What is HDI
Measure of human development
What does HDI include(4)
Life expectancy Mortality rates Literacy rates Mean years of schooling Etc
What are barriers to growth and development(5)
Corruption Instituational factors Infrastructure quality Human capital Labour skills
Give some free market stratergies to promote eco growth and development(4)
Privatisation
Degreulation
Trade liberalisation
Removing FDI restrictions
Give some intervensionist stratergies to help EG and ED(5)
Export subsidise Protectionism trade policies Nationalisation More regulation Inc private sector investment Inc gov inestment Changes to tx rates LOwer welfare Training schemes
Types of aid(3)
Country to country - bilateral Aid through international bodies - multilateral Tech assistance Humanitarian Soft loans - loans with lower IR Dent relief
Argument for giving LEDCs aid(5)
Opporunity to increase their growth increase copetitiion Improved relations Better trade deals Inc their SoL
Negatives of giving LEDC’s aid
Negative externatlities Potential credit risk LEDCs can become dependent Time lags Corruption
arguments for fdi for firms
lower costs
specialisied labour force
general pros of fdi
SUPPLY SIDE GROWTH
Inc SoL
Injections to economy
Capital inflows
Cons of FDI
Potential exploitation of workers
Profits nto reinvested in eco
Corruption
Poor workign conditions
with regard to poretectionist policies how may firms be incetnivised to invest and set up in an eco
by the coutnry havign say low tarrifs or quotas, meanign firms want to set up to access the lower costs of improtign etc
if we stuck what to do
break shit down utnil we can fidn a logicla chain of reasonign embedded in a root
take time to think
should we plan if we knwo what we on ab
no
what should we do if we usnure on what to write next
work backwards from the point we want to make and find a segway into that joruney
what should be our aim for essays when discssing anything
link back to main objectives and then flow from there
when discussing a question what shoud we always aim to relate and link our points too when the focus is geenrl
the supply side
the demand side
what should we do before linking back to main objectives
make a single poitn, disuss that point then flow with it
what attarcts fdi
low wages - cheaper cost of prod
high skill of labour
low tax rates
low transport costs
opportniity of growth in eco, will they get mroe consumer
cheaper trade
free trade
